In this episode, we examine some common tax myths being incorrectly shared and popularized as easily claimed and totally legit tax strategies on TikTok: writing off lifestyle expenses, claiming the home office deduction, starting an LLC to maximize write-offs, and using a C-Corporation as a small business in order to 'look professional.'

While these strategies can be viable in the right circumstances, it's important to be aware of the consequences of the incorrect/illegal/unnecessary application of these strategies.

#LLC #S-Corp #C-Corp #taxes #taxdeductions #financialplanning 

Thanks for tuning in to Financial Flow, brought to you by Tidepool Wealth Strategies. Until next time, stay resilient – and plan to retire well!

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Phillip Smith, CRPC AIF LinkedIn